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Thread: How much should I contribute per year towards retirement?

  1. #81
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    Quote Originally Posted by Buster View Post
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    I tell my kids all the time: hard work is necessary but insufficient.

    When it comes to "luck", whatever that is, people talk about it like it is necessary. It is not.

    An aptitude or training to be a good decision maker is a key skill. Maybe the key skill.
    Totally agree about decision making.

  2. #82
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    Quote Originally Posted by Buster View Post
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    I tell my kids all the time: hard work is necessary but insufficient.

    When it comes to "luck", whatever that is, people talk about it like it is necessary. It is not.

    An aptitude or training to be a good decision maker is a key skill. Maybe the key skill.
    Are you saying my “I love Buster” tattoo on my forehead was a bad idea?

  3. #83
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    Quote Originally Posted by suntan View Post
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    Are you saying my “I love Buster” tattoo on my forehead was a bad idea?
    I get that a lot.

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    Quote Originally Posted by 89coupe View Post
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    Find cheap rent, take public transit, don’t eat out, it can be done.
    How was this missed.... beyond is slacking today.

  5. #85
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    Quote Originally Posted by 88CRX View Post
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    How was this missed.... beyond is slacking today.
    Man... 89coupe has evolved over the years, that's for sure. #7.2 is more important than expensive lunches WITHOUT counting drinks.

  6. #86
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    Quote Originally Posted by suntan View Post
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    It's even been quantified and proven:

    It's a good video, but he's regurgitated a lot of what Malcolm Gladwell wrote in his book Outliers, published in 2008.

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    Quote Originally Posted by suntan View Post
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    If you have a spouse this should be totally possible.
    damn, I really should have married richer

  8. #88
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    Quote Originally Posted by kJUMP View Post
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    It's a good video, but he's regurgitated a lot of what Malcolm Gladwell wrote in his book Outliers, published in 2008.
    I took stats in 1992, where I learned this. This shit ain't new.

    - - - Updated - - -

    Quote Originally Posted by dirtsniffer View Post
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    damn, I really should have married richer
    It helps.

  9. #89
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  10. #90
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    Can’t rep you anymore for that…
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  11. #91
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    Is that Jordan?

  12. #92
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    Quote Originally Posted by suntan View Post
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    Is that Jordan?
    naw Jordan's good shit, lol

    - - - Updated - - -

    Quote Originally Posted by killramos View Post
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    Can’t rep you anymore for that…
    "you forgot the fucking drone?!"

    lolol.

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    Quote Originally Posted by suntan View Post
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    Marrying someone with values that mesh with yours helps a lot.
    This is probably the most important point here.

    You know how many incompatible people come up on unnecessary road blocks and fail?

    Hello, your gears aren’t meshing! Not on the same page.

    Want to work long hours? Pick a wife who grew up like that. Srs
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

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    Quote Originally Posted by ercchry View Post
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    And here I thought you just had to look pretty to be successful
    Statistically, it's a big factor. Halo Effect.
    Ultracrepidarian

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    Quote Originally Posted by ercchry View Post
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    What’s wrong with the old fashioned way? Home values only go up, live pay cheque to pay cheque and wait till boomer parents die and you inherit all the retirement savings you need?
    explains why some are refusing on having their parents vaccinated at retirement homes

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    I talked to her this morning and we are currently saving 21% of gross income between us, excluding bonuses or gifts from parents (I have a personal rule that those always get saved and never spent). I think it’s not bad considering we just moved into a new house, paid for new windows (biggest cost expected) and outside of the mortgage and her student loans we have no debt. She plans to put the money she’s saving for wedding and the money she’s paying off student loans with into retirement when those are done, as well as any pay increases.

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    This is very reasonable.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  18. #98
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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    I talked to her this morning and we are currently saving 21% of gross income between us, excluding bonuses or gifts from parents (I have a personal rule that those always get saved and never spent). I think it’s not bad considering we just moved into a new house, paid for new windows (biggest cost expected) and outside of the mortgage and her student loans we have no debt. She plans to put the money she’s saving for wedding and the money she’s paying off student loans with into retirement when those are done, as well as any pay increases.
    Hey man, send me a PM.

    I am not a financial advisor although I have made some good habits for about 20 years now. I am planning on retiring at 50 or sooner.

    I was in the same boat back then - I felt that everything was expensive, but starting the habits early in your life is the key to early retirement and financial freedom.

    Getting rid of unnecessary purchases on depreciating assets like vehicles, modifications, wheels, etc...

    Try not to live beyond your means, watch how much you spend and an increase in spending power should not equal to increase in purchasing unnecessary wants. Use that spending power on getting rid of your high-interest debts. A mortgage is a good example, do a bulk payment once a year and watch your payments decrease by 10 years over time.

    Stay out of social media and reality TV shows or news in general. They make you want things you don't need (cue Fight Club quotes).

    While it is nice to see a padded savings amount in your bank account, it is better to have it locked towards appreciating assets.

    I once told my friend back in March, instead of spending $6,000 on an over the roof tent for his Rubicon, use that money to invest in the Apple stock, it was around $120 per share. Should he have done that, he would have made an unrealized gain of $1,400 today.

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    “My Ride: Bicycle”

    Makes sense
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  20. #100
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    Quote Originally Posted by killramos View Post
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    “My Ride: Bicycle”

    Makes sense
    Damn right.

    I ride my bike to work daily and have already saved thousands of dollars over the last 10 years.

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